A Typical Junker – Flip This House

A Typical Junker – Flip This House
Here is a house we tried to buy pretty hard. It is in awful condition. It was built in the late 1950’s.  It is 800 sq ft and a 2 bedroom, 1 bathroom on a good sized lot.  The house needs about 25k in repairs to make it rent ready. At the end of the day we missed out on this...

The House Just Needs Paint and Carpet…

The House Just Needs Paint and Carpet…
This is one of the most common things I hear in the business.  “Hey, you will love this house, it’s turnkey, it just needs paint and carpet.” Depending who it is, there are two reactions: If this person is telling the truth: So if this is true and the house just...

Closed our first HUD Repo

Closed our first HUD Repo
All I have to say is finally.  We made our first original offer on this house in February. Step 1: Our agent sent executed contracts to the HUD office in Sacramento.  45 Days later I noticed the product shows as Active again and call my agent.  He calls HUD and they never received...

Hitting the Home Run Deal

Hitting the Home Run Deal
Everyone dreams of hitting the home run deal.  The house that the gurus brag about.  No hiccups along the way, it goes exactly like you planned.  Too bad life doesn’t work that WAY! Frankly, every deal we buy has to meet some minimum requirements.  But we don’t wake...

Dealing with the, “If only I could’ve…”

Dealing with the, “If only I could’ve…”
The longer I have been in the business, the longer my, if only list gets. If only I came up the $500 the agent told me and bought that property. If only I trusted my gut and bought more rentals. If only I kept that property instead of selling it. etc Right now, you’d look...

Real Estate Gurus?

Real Estate Gurus?
If real estate investing has a lot of anything, it is self proclaimed gurus who are trying to sell you something!  In general, I really believe in training and further education in your chosen field. Here is some advice I have and the research I would do before I would pay for any...

I am ready for the weekend!

I am ready for the weekend!
What a busy week in the land of California real estate investing.  I closed on three purchase escrows this week alone and put two more under contract.  If you’re counting that should make 5 purchases for January.  So we are getting a great start to our 2010 goals. Three of...

Got One! Rental House

Got One!  Rental House
So I write a post like the one last week (Goal: Get a House By the End of the Week) and proceed to disappear for a week.  You’d think I was so ashamed to face the couple readers I have to this blog, that I went into hiding until I got one.  Sounds good, but I ended up having...

Goal: Get a House By the End of the Week

Goal: Get a House By the End of the Week
If you have been following the blog for a while you’ll know we have had some great months, with a lot of acquisitions as of late.  But so far in November we’ve only had one closing (House #26). Right now, we have one property in escrow (House #27).  But I would like...

Short Sale Flips – Watch out!

Short Sale Flips – Watch out!
Anyone who is doing short sale flips (or even considering it), especially same day flips, needs to read this article. The FBI is not a fan of so called investors who get involved in selling short sales within 24 hours of them buying them. The FBI recently added short sale flipping,...

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